|6.36 in small spec..197k float pre-offering now 790k right pr could spark mayhem -|
($3.5m offering closes today)
Safe-T Group Reports Preliminary Revenue Growth for Third Quarter 2019
Company Expects to Report Estimated 440%-480% Growth in Revenues
News provided by
Oct 03, 2019, 02:30 ET
HERZLIYA, Israel, Oct. 3, 2019 /PRNewswire/ -- Safe-T® Group Ltd. (NASDAQ:SFET), (TASE: SFET), a provider of Secure Access solutions for on-premise and hybrid cloud environments, today announced an estimated revenue range for the third-quarter ended on September 30, 2019.
On a preliminary and unaudited basis, Safe-T expects to report third-quarter 2019 revenue in the range of $1.35M to $1.45M, an increase in the range of 440% to 480%, respectively compared to $248,000 in the third quarter of 2018.
The Company's revenues for the third quarter of 2019 reflect the first full quarter of consolidated financial results since the Company's acquisition of NetNut Ltd. on June 12, 2019.
Shachar Daniel, Safe-T's Chief Executive Officer, said: "In June 2019, we presented our business and financial strategy for accelerating the company's growth. I'm pleased that the actions we took over the past months are starting to yield measurable results which reflect in our financials. Safe-T continues to improve its market position, with innovative solutions, unique technologies, a growing customer base and a global reach. I believe we now have better visibility of the main drivers for our growth and can better utilize our core competency and skills to generate revenue and add value to our shareholders."
This update is an estimate, based on information available to management as of the date of this release, and may be subject to further changes upon completion of Safe-T's standard quarter-end closing procedures. This update does not present all necessary information for an understanding of Safe-T's financial condition as of September 30, 2019, or its results of operations for the quarter ended September 30, 2019. Actual results may differ.
Safe-T will release its third quarter 2019 results by November 29, 2019.
------------------- "Opportunities multiply as they are seized" -- Sun Tzu circa 500 B.C. -------------------